Caspian Pipeline Consortium

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The Caspian Pipline Consortium is an international consortium of 1,510-kilometer long oil pipeline from Tengiz field to the Novorossiysk-2 Marine Terminal on Russia’s Black Sea coast. It also major export route for the oil from Kashagan and Karachaganak fields. The CPC was formed in 2001 between the governments of Kazakhstan and Russia as well as the American-owned oil company Chevron.The shareholders are:

Russia - 24%
Kazakhstan - 19%
Oman - 7%
Chevron Caspian Pipeline Consortium Co. - 15%
LUKARCO B.V. - 12,5%
Mobil Caspian Pipeline Co. - 7,5%
Rosneft - Shell Caspian Ventures Ltd. - 7,5%
Agip International (N.A.) N.V. - 2%
Oryx Caspian Pipeline LLC - 1,75%
BG Overseas Holdings Ltd. - 2%
Kazakhstan Pipeline Ventures LLC - 1,75%

The first stage of the CPC with an approximately cost of US $700 million was opened on 27 November 2001. The pipeline diameter varies between 1,016 mm and 1,067 mm. The transport of oil began at 350,000 barrels per day. The planned capacity of pipeline at the first stage is 28.2 million tons of oil per year. A second stage, if constructed, would increase capacity to 1.3 million barrels per day by 2010. The estimated cost of second stage would be around $2.0 billion dollars.